Buying Rental+Farm RE in Puerto Rico with PL & Owner Financing

[Juan Bravo]

Hello BP community!

I'm about to make an offer to my very first RE investment! This is a sweet deal for a 20+ acre farm land which also has a duplex rental already with tenants in it. I am planning on using creative financing through personal loan (60% sale price) upfront with owner financing the remaining 40% for 10 yrs. My concern is how to close (contract, legal, etc.) this deal in Puerto Rico since things are a bit more complicated there than in the mainland. @Victor Chico any thoughts or suggestions? Or anybody with experience with deal like this in Puerto Rico?

All best,

Juan

[Dennis Rodriguez]

@Juan Bravo

I have a friend in Puerto Rico who is both a RE Broker and investor. He woks with an attorney that is very experienced putting together seller financing and other creative financing contracts in the island. Send me a PM and I'll give you his contact info and he can put you in contact with his attorney. 

Good luck. 

Dennis